The output of U.S. citizens who work in Canada would be included in the
A) gross domestic product of Canada.
B) gross national product of Canada.
C) gross domestic product of the United States.
D) gross national product of Canada and the gross national product of the United States.
Answer: A
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Refer to Figure 18.3. The opportunity cost of producing scooters in Livonia is
A) 2/3 of a pogo stick. B) 6/5 of a pogo stick. C) 1.5 pogo sticks. D) 1.25 pogo sticks.
Which of the following is not a legitimate reason for maintaining federal budget deficits? a. Deficits boost domestic saving, which in the long run could promote economic growth. b. Deficits help reduce the size and duration of recessions through automatic stabilizers. c. Deficits are used to finance capital projects
d. Public spending through deficit financing wins support from the voters. e. A federal budget deficit stimulates aggregate demand.